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Sorry Russell 2000, The Caracas Stock Market Shows How It's Done
The corks are popping, new valuation metrics are confirming the buy signals, and everyone's a stock-picking genius... that is the image projected by CNBC USA (and Europe) as the Russell 2000 is now up 30.6% year-to-date. However, we can only imagine the elation, exuberance, and ecstasy that would be seen day in and day out in at CNBC Venezuela as the Caracas Stock Index rises its most in a month to a new all-time record high and is now up 312.5% year-to-date...
Coming to another 'banana republic' soon...
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We're such rookies at hyper-inflation.
The Fed has deflated the inflation index with all that "chain-weighted" nonsense. By my reckoning, we aren't getting the proper credit we deserve.
Both VIX and SPX have been marching higher today at 45 degree angle for two+ hours now.
True. If money printing were an Olympic sport, the Bernank wouldn't make it past the first qualifying round.
The fuckers had to nationalize their toilet paper manufacturing, so I'm not surprised.
Caracus or Carcus?
Meanwhile Ed Snowden is hanging with former CIA analysts in an undisclosed part of Russia.
Because he is former CIA? What was the word on 9/11 again, Ed?
"... nationalize their toilet paper manufacturing ..."
Nationalizing their toilet paper manufacturing means that in a few months they'll be wiping their asses with their fingers!!
Or their currency.
So the 'experts' will start recommending you buy buy buy the Caracas index in 3...2.....
We'll catch up...Yellen doing her stretches now...as we speak...leotard and leg-warmers getting a healthy workout no doubt!
You're welcome for the vision.
i hope they are not the see thru kind......and fuck you for putting that pic in my mind...
Is Maduro about to die?
so far today-
fb- up 4 percent
amzn- up 6 percent
goog- up 13 percent
lnkd- up 4 percdent
yelp- 8 percent
no bubble to see here, lol.
They are very very close to devaluing their currency..actually its the daily talk down here in Colombia....its not if..its when....
Official exchange rate is 6.50 to the dollar, but anywhere on the street, you'll get 50 for a dollar (which is, incidentally, up from about nine, I think, from the last time Venezuela's currency problems were in the news, which was only about six or eight months ago, if I recall correctly).
Government-based stock markets kick fucking ass.
Fuckin Feds are buying all NSA stocks!
I hope the US Mint has already started the engraving for the million dollar bill.
300% per year is solid hyperinflation territory.
In Zimbabwe, the best (only) place to keep your money, if you had any, was in the stock market. Seen this movie before.
Zimbabwe stock chart: http://www.goldonomic.com/zimbabwe.htm
"Prices go up because the value of the Fiat paper money is falling as more and more is created....... In Zimbabwe stores did not even have goods on the shelves, people were hungry, there was no water, no electricity, no public transportation, gas was sold on the black market and large quantities of paper money confiscated...and yet the Stock market kept soaring..."
its a fucking circus I tell.ya and take it from me after all Im a clown
Going all in on animal spirits till January, then I'll be ready to get out at will and be buying myself some gold :)
Let's get the consumption/markets always rise orgy started, 3.2.1 go.
p.s. So, we will keep kicking tha can down the road for few more years, nothing to see in here, I mean, what can go wrong? Statistics is out, magic and miracles are in, untill reality bites, and man, eventually it will bite !
but isn t this fun, should be fun shouldn't it, all pinwheels and cotton candy, the bearded lady,
etc, oh wait thats a carnival.
good luck investing on the Caracas exchange, 50% annual inflation rate, multiple foreign exchange rates, interested in hearing from some ZH readers who lives in Caracas.
From the Guardian
www.theguardian.com/world/2013/sep/25/raspadito-venezuelans-currency-controls
El raspadito: Venezuelans flock abroad seeking US dollars to resell on the black market back home
Flights to neighbouring countries booked solid as Venezuelans look to exploit currency controls
Helena stood to make a killing from her one-week trip to Peru. By swiping her credit card at "a friend of a friend's" shop in Lima, she could have withdrawn as much as $2,500 (£1,600) in cash charged at the official rate of 6.30 Bolivars to a dollar. Reselling the greenbacks at the black market rate of 48 Bolivars a dollar back home in Venezuela would have given her 120,000 Bs – roughly what she makes a year working as a nanny in Caracas.
Getting in is easy.
Oh, so equities are a good inflation hedge?
They are better than almost anything else.
Why do folks on her perpetually junk equities in favor of gold then?